Target #1 is bagged today. Goldie held up well in to the close. She is just shy of the August highs so we expect Goldie to pull back or consolidate before making an attempt at taking out stops. If the MOMO is good then Target #2 will be realized. We like how she's acting. Stops have been pulled up to manage risk. Stay tuned
Goldie closed strong and has taken out a prior swing high. This is good news for those of us who are long. We expect her test the August highs and possibly the 2oo day EMA. Our stop is in and risk is defined. DO NOT chase at these levels. If this move is for real there will be more opportunities to enter. Trade well!
Goldie tried to run our stop but found legs. Let's see if this is the fuel for more upside. We are moving the stop up a bit. If she revisits the stop area she will most likely take us out. REMEMBER...trading is about preserving capital and managing risk!
Goldie won't be out done by crude. She is trying to bust a move. We triggered long tonight and will keep a tight stop just in case Goldie starts getting frisky. If we stop out then we will wait for a clean break and then buy the pullbacks and pauses.
WHAT A MOVE...The jobs number spiked Goldie. The spike took out the last days highs and also blew through our trigger zone with virtually no chance of triggering short. THIS IS WHY WE USE TRIGGERS. If not, it would have been a very quick stop. So this trade is no dead to us. We still have Goldie on the watch list. The erratic action is telling us that she is...
Holy Shizz...Goldie didn't bounce before selling off. We DID NOT get on board. However, we will short bounces. We adjusted our trigger zone a bit and will see if Goldie will throw us a bone. Why not chase it down at these levels? Goldie has teeth and will bite. ;) Never chase...you will miss some trades. Set YOUR criteria a make the market come to you. ...
We were stopped out of our Gold position and are on the side lines. We mentioned that we had a larger time frame signal setting up and the long side was fighting that signal. We are now back in the wedge which could mean a fake break out and lower gold prices. Keep this on your watch list.
We are still holding onto to Goldie. She is acting well. First targets were hit and stops pulled up. She may consolidate for a couple of days before reaching for higher levels. We will honor these stops...if we get taken out then no harm done. Stay tuned.
We will be the first to tell you we didn't think this trade was great but I will also tell you that you take your setups and manage risk. We blew through our first target on this morning on the pop. We are pulling stops up to lock in more profits. No risk is on the table at this time. If you missed this opportunity DO NOT chase at these levels. Go back and...
With everyone and their kid brother devaluing their currency we have seen strength in Gold. Gold has formed a nice wedge that when broken should run nicely. We like the upside potential and pullbacks to the green zone (26-22 area) will be our trigger area. Sine this setup falls in the middle of the wedge it's important to wait for the trigger. NO TRIGGER, NO TRADE!
After a major dump...Goldie is consolidating well below it's break. This is Bearish and provides opportunity. 1040 is Major S/R. Gold bugs are crying foul. Remember...you can't buy milk with a gold coin.
Gold (23.03.2015) moved higher as mention in our last article just around swiss gold referendum & posted a higher above $1300 mark. However it felt sharply & reached to the previous bottom around $1138. Now gold showing recovery from previous bottom level & also broken from a shot term descending channel as shown in picture. However this breakout is not...
GC triggered for us and now we manage the trade. First target is 1130. Today's FOMC will have some effect on Goldie so we will be watching.
GC is setting up for a visit of the November lows. Pull backs are sellable. If you are in from the bear flag trim and trail. We are looking for a test of the lows, then 1100.
GC is working on a Weekly wedge which means one thing...a nice move will happen. After trying to break out to the upside it was rejected...then price consolidated before breaking lower. Now price is now testing support. We will watch this test and see if there is trigger for a short. If we get short we will look for the 1100 are for a target. This is on the...
GC looks fugly!!! It's chopping around and is not sure which way to go. GC may be waiting on Greece and the EU to iron out their differences. We will keep an eye on it but we don't see any reason to be involved now
GC looks a little sick. Could this be a fake breakout (weekly chart)? If so you know how to play it! This is on our watch list.
As we mentioned if GC breaks down we would pass on the trade and we did. We will watch for bounces and see if the hold. This is on our watch list. Stay tuned. Watch more GC analysis here: youtu.be